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Financial Planning for the Business Owner, Executive and Professional Corporation The Financial Blindspot The business owner, executive, or professional who is managing a successful, growing
business or practice usually has little time to attend to his own financial planning. To
the extent that he has done financial planning, it has usually been done on a piecemeal
basis, getting advise from his attorney at one time, his CPA at another, and his insurance
agent and investment advisor at yet another time. What is really needed is someone with
the expertise, experience and time to coordinate his business and personal planning and to
act as a sounding board. We work with your attorney and CPA to coordinate the planning as
well as the implementation of your plan. Total financial planning involves gathering data, setting goals and priorities,
analysis, design, presentation, implementation, and review. The financial plan will
encompass the following areas: Wealth Creation The objective of this planning it to increase your net worth and cash flow while minimizing income taxes. This is accomplished through a combination of computer modeling and planning strategies coupled with proper structuring of your investment portfolio. Wealth Conservation Wealth conservation concentrates on ensuring the distribution of your estate in accordance with your wishes while minimizing the impact of estate taxes. This is particularly true when a closely-held business or real estate is a major asset in the estate. Payment of estate taxes could unnecessarily require liquidation of the business or real estate, or result in the inequitable distribution of the estate. Business Succession Planning Business planning involves planning for the continuation of the business in the event of the retirement, death, or disability of the owner(s) or key management personnel. This may entail arranging for the sale of the business to family members or to successor management. Executive Benefits Executive benefits planning encompasses the development of selective compensation plans to attract, retain and reward key management. It also involves the design of qualified retirement plans coordinated with the personal and business goals of the owner(s) and key management. |
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Copyright © 1998 Auerbach & Gussin
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